Office Supplies were $900 at the end of January and $1,140 at the end of February.During February,Office Supplies Expense equaled $420.How much cash was paid for office supplies during February?

Question

Quizplus · Accepted Answer

The increase in Office Supplies from January to February was $1,140 - $900 = $240.

Since the Office Supplies Expense was $420, we know that $420 worth of supplies were used up.

Therefore, the cash paid for new supplies during February must have been $240 (increase in supplies) + $420 (supplies used) = $660.

Therefore, the correct answer is D) $660.

Office Supplies Were $900 at the End of January and $1,140